How major USA stock indexes fared Monday

Tech stocks are getting slammed, Dow drops more than 400 points

Tech giants slide, pulling US stock market sharply lower

USA stocks closed sharply lower on Monday, as steep losses in Apple shares led the tech rout, dragging the market.

The Nasdaq Composite index fell about 2.5 per cent on Monday, hit by a slump in Apple Inc shares after two suppliers cut their forecasts, sparking a selloff in other iPhone component makers and weighing on technology stocks in general. The S&P 500 was down 38.05 points, or 1.37 per cent, to 2,742.96, Xinhua news agency reported.

The Dow Jones Industrial Average fell 170 points on Tuesday as the USA equity market struggled to rebound after a steep sell-off in the previous session.

The tech-laden Nasdaq also pushed higher, climbing by 36 points to 7,236, lifted by Vodafone Group, Nvidia Corp, Tesla, JD.com and Applied Materials Inc.

In Canada, meanwhile, Toronto's TSX was also still rushing upwards to rise by almost 55 points and hit 15,211 while the Russell 2000 index of small-cap stocks jumped by 8 points to reach 1,526.

The stock market was coming off a two-week winning streak for the benchmark S&P 500. Shares of Amazon and Alphabet decreased 4.41 percent and 2.58 percent, respectively. Nasdaq-100 futures gained 49.75 points, or 0.7%, to 6,884.50.

The Russell 2000 is down 16.72 points, or 1.1 percent.

Shares of Goldman Sachs plunged 7.46%, dogged by concerns of the company's connection to the 1MDB bribery scandal in Malaysia. Germany's DAX lost 1.8 percent and France's CAC 40 fell 0.9 percent. Russian oil minister Alexander Novak said at a meeting of oil producers in Abu Dhabi that his country was open to cuts. Visit MarketWatch.com for more information on this news.

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LIFELINE EXTENDED: Athenahealth jumped 9.7 percent to $132.01 after the struggling medical billing software maker received a $5.7 billion cash buyout offer.

The US Treasury market was closed in observance of Veterans Day.

ENERGY: Benchmark U.S. crude fell $1.26 to $58.67 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price global oils, picked up 0.3 percent to $70.38 per barrel in London.

Major stock indexes in Europe also ended lower Monday.

Saudi Arabia, the world's largest oil exporter, said on Sunday it would cut its shipments by half a million bpd in December due to seasonal lower demand.

In Asia, stocks were generally mixed with the Nikkei 225 down 459 at 21,810, while the Shanghai Composite Index added around 24 points at 2,654.

The S&P 500 added 0.06% to settle at 2,727.

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